Credit Ratings
In early 2018, rating agencies upgraded FPC’s credit ratings:
- Moody’s to an investment grade “Baa3”, with a positive outlook (one notch higher than thesovereign credit rating)
- Standard & Poor’s to “BBB–”, with the stable outlook changed to negative in March 2018.
Fitch affirmed its “BB+” rating, with a positive outlook.
In December 2018, the Russian national rating agency ACRA affirmed its “AA+(RU)” high credit quality rating for FPC, with a stable outlook.
| Agency | Rating | Outlook |
|---|---|---|
| Moody’s | Baa3 | positive |
| Standard & Poor’s | ВВB– | negative |
| Fitch | ВВ+ | positive |
| ACRA | АА+(RU) | stable |
Events after the reporting date:
- in February 2019, Moody’s upgraded FPC’s rating to “Baa2” with a stable outlook. FPC’s current rating from Moody’s is one notch higher than the sovereign credit rating.
- in March 2019, Fitch upgraded FPC’s rating to “BBB–” with a positive outlook.
Consequently, since Q1 2019, the Company has investment grade credit ratings from all three leading global rating agencies.